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BJs RESTAURANTS

BJRI on Nasdaq. BJ's Restaurants sells food and drinks to restaurant customers. Market value $1.3bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Retail & consumer stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.5%fair

For every $100 of what the whole company costs, it produced $3.52 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
34.0×full

You pay 34.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
2.7%five-year median

Each dollar kept in the business earns 3 cents a year. Above 10 is good.

Quality score: 60 of 100. Price score: 37 of 100. Our list needs 70 on quality and 60 on price.

$61.33 a share, 115% above its 1-year low

Over the past year the price has ranged from $28.46 to $74.60.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
-0.0
0.0
0.0
0.0
0.0
2021202220232024202512 monthsto Jun '26
Revenue
$1.1bn$1.3bn$1.3bn$1.4bn$1.4bn
Operating margin
-1.5%-0.4%1.0%1.0%3.3%
Debt to equity
0.150.170.190.180.23
Shares outstanding
0.02bn0.02bn0.02bn0.02bn0.02bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)7 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.23× equity
  • Revenue growth, five yearsStrong, 12.4% a year
  • Buying back its own sharesYes, 9% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $389 million last quarter, up 6% on a year ago.
  • Profit: $19 million, down 15% on a year ago.
  • It keeps 3 cents of each $1 of sales as operating profit, up from 2 cents a year earlier.
  • Spare cash over the past 12 months: $46 million, down from $53 million.
  • 5% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $30 million more than cash, down from $35 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$326m
December 2024$344m
March 2025$348m
June 2025$366m
September 2025$330m
December 2025$355m
March 2026$358m
June 2026$389m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$3m
December 2024-$5m
March 2025$13m
June 2025$22m
September 2025$465,000
December 2025$13m
March 2026$9m
June 2026$19m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
2 March 2026
Next quarterly (estimated, 10-Q)
30 October 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 195 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

  • BlackRock, Inc.
    Passive investor
    14.0%
    Since 30 September 2025
  • 9.2%
    Since 31 March 2026
  • Ronald M. Shaich
    Passive investor
    8.4%+1.7 pts
    Since 17 March 2026
    What they said

    On March 12, 2026, the Reporting Persons purchased 77,268 shares of the Issuer's Common Stock for investment purposes. On March 13, 2026, the Reporting Persons purchased 73,000 shares of the Issuer's Common Stock for investment purposes. On March 16, 2026, the Reporting Persons…

    Read the filing
  • 5.1%+0.2 pts
    Since 31 December 2025
  • NOMURA HOLDINGS INC
    Passive investor
    at least 3.0%−5.0 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • PW Partners Capital Management LLC
    Passive investor
    at least 2.6%
    (filed with 5 related holders)
    Since 24 June 2026
    What they said

    The Reporting Persons have engaged in transactions in the Common Shares of the Issuer as described in Item 5(c) of this Amendment. Such transactions consist primarily of sales of Common Shares effected in the ordinary course of managing the Reporting Persons investment in the…

    Read the filing
  • Fund 1 Investments, LLC
    Passive investor
    Sold down below 5%
    Since 28 April 2025
  • Woodline Partners LP
    Passive investor
    Sold down below 5%
    Since 31 March 2026
  • BJ's Act III, LLC
    Sold down below 5%
    Since 3 August 2026
    What they said

    On August 3, 2026, the Reporting Persons completed a block trade (the "Transaction") with an investment bank, as principal (the "Purchaser"), pursuant to which the Reporting Persons sold to the Purchaser: - 710,724 shares of Common Stock; and - warrants to purchase 876,949…

    Read the filing
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $218,574 of shares on the open market. 6 sold $8m.

  • Richmond C Bradford
    Director
    Bought
    Date
    3 September 2026
    Shares
    500
    Price
    $59.50
    Value
    $29,750
  • Richmond C Bradford
    Director
    Bought
    Date
    2 September 2026
    Shares
    500
    Price
    $61.05
    Value
    $30,525
  • Richmond C Bradford
    Director
    Bought
    Date
    31 August 2026
    Shares
    753
    Price
    $63.25
    Value
    $47,627
  • Elbogen Noah A.
    Director
    Sold
    Date
    10 August 2026
    Shares
    7,535
    Price
    $70.14
    Value
    $528,505
  • Miller Kendra D
    EVP & General Counsel
    Sold
    Date
    7 August 2026
    Shares
    2,978
    Price
    $69.80
    Value
    $207,864
  • Miller Kendra D
    EVP & General Counsel
    Sold
    Date
    6 August 2026
    Shares
    10,217
    Price
    $69.31
    Value
    $708,140
  • Lynds Gregory S
    EVP & Chief Dev. Officer
    Sold
    Date
    6 August 2026
    Shares
    21,704
    Price
    $68.81
    Value
    $1m
  • Lynds Gregory S
    EVP & Chief Dev. Officer
    Sold
    Date
    3 August 2026
    Shares
    25,350
    Price
    $67.47
    Value
    $2m
  • Krakower Brian S
    EVP & Chief Info. Officer
    Sold
    Date
    18 June 2026
    Shares
    7,341
    Price
    $55.17
    Value
    $405,003
  • Miller Kendra D
    EVP & General Counsel
    Sold
    Date
    18 June 2026
    Shares
    19,261
    Price
    $55.60
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 2 Mar 2026, plus the 10-Q filed 31 Jul 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 34.0× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.